ProfitCoins.io Review – a Ridiculously Obvious Crypto Scam

To make use of this invest all you need is to invest a minimum of 150 Euro. No prior knowledge is needed.

Someone versed in the ways and pitfalls of the crypto industry can cast a solid verdict on ProfitCoins.io after a glance or two at the website.

What do these guys peddle?

A get-rich-quick scheme, offering a 1% daily ROI, which is hyped to “last forever,” is completely free and requires no skills on the part of the client.

Should we even get into further details on this? Let’s do it anyway…

How does the ProfitCoins software work?

As a general rule, you should always consider every offer that fits the mold of “too good to be true,” to be a scam.

In this instance, we are dealing with a crypto-focused, auto-trading solution, which takes advantage of arbitrage.

It buys a certain amount of a certain crypto at one exchange, and it sells it at another exchange, for a profit. All this occurs within a few seconds, otherwise the profitability of the setup may slip away.

This way, it is claimed that return rates of 30% per month are achieved “consistently.”

The feat does not require any kind of expertise on the part of the user and the system is available for free, with no strings attached.

If that is not the definition of “too good to be true,” nothing is.

If someone actually developed such a system, the last thing on his/her mind would be to share it with the public.

ProfitCoins.io

The way the Profitcoins.io sales pitch is delivered falls well short of the mark too.

The website itself – while looking OK-ish at first glance – ends up raising quite a few red flags under closer inspection.

The people behind it -purported to be real and genuine – are presented with pictures that look a lot like stock photography.

Indeed, the alleged founder and director, a certain Rocio Knight, has a LinkedIn profile too, with the same picture and not a single different one. There are no other traces of this person anywhere online.

The website itself, has been set up from the get-go with the copy featured now. Yes, that includes the 3,500 alleged clients the operator has.

A person who apparently worked on the project as a freelancer, hired online, makes it clear in a comment made on a profitcoins.io review, that the whole thing was set up the way it currently is, from the get-go, so the information presented on the site is all fake.

To add insult to injury, the said person has also revealed that the perpetrators of the scam actually scammed him and another person who worked on the “project” too, as they never saw any remuneration for the work they’d put in.

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Bitcoin Wallet Address:

33VVUZRQ15zMuo5FuPpFsWkEMHQXvswB2h

The alleged address of the company behind the profitcoins.io brand is non-existent.

There is no operation of this type located at 122 Leadenhall Street, London.

The user testimonials featured on the homepage are not just obviously fake, one of them used to feature a rather hilarious slip-up as well.

The testimonial of Franziska B., an alleged “mother of two” and participant in the profitcoins scheme, used to feature “PROJECT NAME” instead of the actual Profitcoins name, making it ridiculously clear that the whole thing had been drawn up way before the actual name of the “project” was even established.

This mistake has since been corrected, as the perpetrators themselves probably read the musings of the Bitcointalk forum participants who had spotted the slip-up.

Another interesting twist is, that while the company is allegedly based in London, and that it is a global operation with clients in every corner of the globe, all the names of the testimonial providers are German.

What does that mean?

Not much really: it is just an awkward and unnatural pattern, which also indicates the artificial nature of these testimonials.

Bitcointalk is not the only channel used by crypto community members to bash the Profitcoins.io scam.

Trustpilot is another platform where scores of complaints have been published, despite the best efforts of the scam perpetrators to influence their overall review-ranking through fake positive reviews/appraisals.

The positive reviews on this page are all very brief and in the same vein, making it clear that they are indeed quite artificial.

The complaints on the other hand follow much more randomly natural patterns. Some of them go on and on, while others deliver the verdict within a sentence or two.

The conclusion that can be drawn from these reviews is obvious: it is extremely easy to deposit cryptos with Profitcoins.io, but making a withdrawal is an entirely different issue.

Moving on the whois information of the Profitcoins.io domain name, we bump into yet another major red flag: none of the relevant bits of information (more precisely those about the identity of the registrant) are publicly available.

Furthermore, the domain seems to have been registered from Turkey.

People at Bitcointalk have linked the operation to a certain Senem Erdogan, so that bit seems to make sense – not that it inspires any trust at all.

The Pofitcoins.io Ponzi dimension

Just when we thought Profitcoins.io couldn’t fare any worse in a review, we’ve discovered a Ponzi-scheme feature to it too: the scam encourages users to bring others into the fold, offering them certain rewards.

Profit Coins Review Conclusion

As cryptocurrency scams go, Profitcoins.io is what one would call a “hot mess.”

It has major problems on the credibility front and for someone versed in the ways of the industry it screams scam from the get-go.

Here’s a rundown of its top “sins”:

It is too good to be true

Its pitch is shoddy and lacks every semblance of credibility

It has a Ponzi dimension

Its reputation is abysmal

It fails every step of the way marketing-wise

There’s great secrecy surrounding its pushers.

Summary

Reviewer

James

Review Date

2018-05-27

Reviewed Item

ProfitCoins.io

Author Rating

2

Help spread the word

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(NOTE: It should be noted that this email address is most likely fake as it bounces back to your address when a message is sent to it)

To file a complaint:

Please visit the Action Fraud website at:

actionfraud.police.uk

where you can register to use this new service any time of the day or night which enables you to both report a fraud and find help and support. Please note that if you do not register at the time the report is made, this service will not be available to you. If you are seeking an update to a report please visit your dashboard to track the progress of your report. If you did not register it will not be possible to receive an update, but an outcome will be provided to you in due course.

You can also file a complaint at the following agency and email address:

404/5000 I read a lot of bullshit but nothing compared to what I read here. Quit being stupid and study a little before you come here to talk nonsense. Arbitrage is something cool and completely acceptable. I did arbitrage manually for 3 years with profits above 20% a month getting more than 10 hours a day connected to 7 exchanges around the world. Profitcoins can with their robot do much more and better than that. DONT BE STUPID!!!!

Warning: Please read this before giving ProfitCoins any of your hard earned money:

Also: please notice carefully that all of the email addresses listed for ProfitCoins below were returned as undeliverable.

April 18, 2019

Good morning.

I have been having problems with your website profitcoins.io

I have been gradually investing money with your website and Company beginning March 1st 2019. I have invested $300 U.S. to-date which you still have in my ProfitCoins account as of this morning April 18, 2019.

I read numerous reviews when your company before investing. They all seemed to be favorable.

I have not had any major problems with the exceptions of logging into my account on the weekends. The site seemed to be down for maintenance each time that I attempted to log in on Saturdays and Sundays. I didn’t pay much mind to it. I figured that you were doing maintenance on the site on the weekends. I eventually was able to access my account again each Monday.

In order to give your company and new website a try, I have initially made three separate deposits to ProfitCoins in the amount of $100 U.S. each through CoinMama. I was initially impressed at how rapidly I started to profit.

However, as a test, I decided to make three withdrawals in March 2019 as follows:

Profitcoins Withdrawal Request

3.06.2019 0.00088 (successful)

3.11.2019 0.0009 (successful)

3.24.2019 0.0008 (successful)

These are the ‘only’ withdrawals that I have been able to make from my account. I have attempted to make withdrawals this month (April 2019) unsuccessfully.

Each time I have attempted to make a withdrawal, I have received an error message that stated that I needed to wait until the previous withdrawal was processed (please see attached screenshot).

This immediately alarmed me…as I have not been able to successfully withdraw anything from my account in the month of April. It is almost as if someone other than myself were making withdrawals from my account.

I immediately began chatting with Marcus in your fresh chat online customer service window. (Please see our conversation attached below.)

I have initially been impressed with your company and website. I have had others to inquire about it as well. I have given it a favorable thumbs up until now. I have also been sharing it with other individuals as well. But, before I invest any more of my money with you or share the opportunity with anyone else, I would like to know what’s going on with my account.

Can you tell me when this problem will be resolved?

I would like to be able to have access to my investment when necessary.

Here is a copy of the letter I just shot off to those email addresses, as well as to the IMs:

Dear Profitcoins,

I have been utilizing your website and application since March, 2019.

On April 3, 2019 I requested a withdrawal from my profitcoins account in the amount of approximately $2,500.00 USD to my Coinbase account. A previous withdrawal in the amount of approximately $120.00 had proceeded successfully a few days before, without much of a delay.

I have now waited 21 days for the current withdrawal to transact.

Your website states:

That payouts take, “2–3 working days. Once you apply for the payout, Profitcoins will begin to profitably close your open positions. Your desired amount will then be transferred to your wallet. All withdrawals will be processed on Sunday. These have proven to be untrue.

If there is no suitable response, I will be compelled to notify several agencies about the fraudulent nature of Profitcoins.io commerce.

Here are just a sampling of some of the agencies I will report this information to:

Action Fraud UK actionfraud.police.uk/

The US Government website usa.gov/stop-scams-frauds

The US Federal Trade Commission ftccomplaintassistant.gov/#crnt&panel1-1

The same is happening to me. I deposited £500 worth of bitcoin back last year as you say trustpilot reviewed them favourably. Then I started to see more and more articles about it being a scam. I requested withdrawal of my funds (including profit) last week and nothing as yet. “Marcus” replied to me on the web chat with the same spiel everyone seems to be getting “I will contact accounting”. I’m now going to report them on action fraud UK although I have no clue what their trading number is or their address as it’s been removed from the site. There is one on companies house listed as “Profitcoins Trading Ltd”, with an address on Baker Street in London and still active. I have no clue if this is the same company. If you have the correct trading number please could you share it with me? We need to make a collective case against them. Thank you!

Please let me get involved with you folks I was taken for 5k$ usd and I’m pissed the fuck off I’m about to fly to UK myself and track these fucks down!!!! My email address is [email protected] would someone please respond to me there on what actions I should take thanks

I was skeptical of the service as you should be, so i decided to deposit around 500$ worth of bitcoin everything seemed good i was turning a profit, and they let me withdrawal all 500$ worth of bitcoin i had so i decided to increase my investment to .6 btc around 2100 usd i let that ride a little while and got the funny feeling to see if theyd let me get it back even though i had no issues in the padt and boom.now itd been over a month and i still haven’t received my bitcoin and all you get from the company is replys from a guy called marcus saying that the issue has been sent to the accounting team and that they will.let me know when there is an update. Yeah right… DO NOT PUT MONEY INTO PROFITCOINS UNLESS YOU LIKE BEING SCAMMED. i have photos of every chat with support and my investments. I lost 2100 it doesnt have to be you too.

THIEVES I have been waiting for 5 weeks and still no sign of the bitcoin I withdrew. Support is useless. They keep saying that a supervisor will take care of the matter soon but they do nothing, they couldn’t care less. I recommend to whomever is in the same situation that you report this to Action Fraud UK. That’s what I did. The more we are, the quicker they will look into the matter.

Me too promising massive profits they profit while you looking stupid blowed away money to a complete stranger they pretending to be your friend.Just disgusted with they fraudulent people taking advantage of good people who just trying to live a Lil.Sharing personal shit with these folks clamming like they yo buddy report these individuals immediately.Honestly I even trying give them the benefit of the doubt,they stall for time promising you they gonna talk to they so called boss.Smfh 😳 I thought you work alone since when you have a boss,manager a glitch in the system.We need to collect fee in order collect the funds owe to you I’m like wtf 😳😤.Why you didn’t tell me this shit in the beginning it’s all a elaborate scam to get you to pay more money.Think about it folks I got you all the bitcoins profits massive,only you doing to cash out pay the fee that’s all.Then I asked long do it takes first said only 24hrs,I asked again now 48hrs only because I suggested it fucking lying.Bogus email,I even went on site have a problem with name too many fucking red flags I even try to get in contact with technical support they never email back.The people doing the scamming not thinking you have family depending on you,your bills you thinking you about to receive money to pay your bills,vacation take yo kids to Disney World.Now you made promises you can’t keep you been scammed wtf 😳 Uma do now.Anybody reading this I hope you take notes these individuals are no good,they trying to drain you dry if they can.Posting and selling lie of homes and cars they don’t owe,using other people shit maybe they renting.Want give you the real information red flag they don’t you know they being fraudulent.They live outside your country would really be hard to track the people,you can try to use to Federal Bureau Investigation cybercrime unit.

I would like to share my horrible experience with Profitcoins. Whoever posted good reviews here, probably is either fake personalities, or they did not invest a large sum of money. I have invested during the end of September 400 Euros and made a withdrawal request a few days later. The withdrawal indeed came through to my wallet with the promised profit. This made me gain confidence that I could invest a larger sum of money. I then invested 2 BTC to be able to enjoy the 1% daily profit for over 2 BTC investment. From that point, things started to take a sharp turn. A withdrawal of just 0.015 out of the 2 BTC, took more than 2 weeks to go through. After this tiny withdrawal, my balance of 2 BTC went to 0.01 BTC and the app shows -21000% profit. At that point I realized this is a complete scam project. I have contacted their support and also via email and received a laconic response, that I have seen other post on other review and bitcoin forum website. Apparently they claim this is how the app works, and you have signed on the T&Cs that clearly say it. I also managed to contact other investors from my country as well as from around the world and, if they did exceed the 2 BTC investment, they ran into the same problem. Profitcoins is definitely a scam. I am warning anyone who reads this now, do not put your money into this. IF you would like to get more details about my experience you can contact me through Facebook, linkedin or through this designated email that I opened – [email protected] I am also adding some of the screenshot showing the original investment and the -21000% loss and my conversations with their support and their email response.

This guy must work for Profitcoins seeing as his comment trashed this article without evidence that the article has no evidence, not to mention the spelling is shitty as hell. Personally as a writer, I thought that the article expresses it’s point with well thought out and researched points that are exceptionally well worded.

As for all Ponzi Schemes, the first ones might be lucky – someone needs to make a win and tell positive about it an lure others in.. Other than that the address listed on the website is the one of a Secretary Service Company, meaning some who creates companies as a service, basically no background check of customers required. The indicated telephone number is not a London number. Their Compliance statement seemed to be copy and paste from a Stock Listed company and would not be applicable even if they would do legitimate business. Plus a lot things when you do some more research..

I was a freelancer who wrote an article for them. They paid me in a deposit to them. No money lost, just an hour or two of my time. It showed up on my dashboard, but I am unable to withdraw. Made the request 3 months ago. Multiple contacts, no progress. At least I didn’t put actual money into it.